India Microfinance

Swadhaar to launch urban micro finance operations

Micro finance institution Swadhaar FinServe Pvt Ltd (SFPL) will launch its first urban micro finance operation in the state at Vadodara on Tuesday.The Mumbai-based non-profit micro finance organisation will focus on the urban poor class living in the slums of Fatehgunj. The organisation aims to extend its activity to semi-urban areas like Dakor, Umreth, Raopura, Gotri and Manjalpur soon.

Swadhaar plans to help the economically vulnerable urban poor and make them self reliant by making available regular, reliable and efficient financial services to them.

The Chief Executive Officer of Swadhaar, Veena Mankar, told Newsline: “We surveyed various locations in Gujarat on parameters like economic activity, educational institutions and micro finance institutions. While some schemes are working in cities like Ahmedabad, Vadodara was one of the cities that remained untapped.” Mankar add that the youths in this city were educated, but unemployed.